Marketing

Internal Redeployment: How Your Business Can Benefit From Outsourcing Internal Hiring

Using a redeployment program as a strategy to manage a workforce and increase employee engagement is one of the best ways to increase employee retention. While many organizations manage this program internally, outsourcing a redeployment program is more effective and saves on administrative costs and resources.

Internal Redeployment services provide career coaching and opportunities for upskilling and reskilling to employees with the objective of filling roles internally. Thrive Redeployment services are different because they are customized to meet the unique needs of every business and its employees.

According to a report by McKinsey & Company, upskilling and reskilling employees can lead to significant benefits for businesses, including increased productivity, improved talent retention, and a better ability to adapt to changing market conditions.

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Employees are your most valuable asset

An investment in employee career wellness has a direct contribution to the bottom line of a business. Results like increased productivity, employee retention plus an adaptable workforce helps businesses thrive long term. When companies offer redeployment services, it demonstrates that they are committed to their employees and value their contributions to the business.

A study by Deloitte found that 80% of executives surveyed believed that career paths within their organizations were no longer hierarchical and that employees needed to be prepared to change roles and functions frequently to remain employable.The same Deloitte study also found that 60% of executives believed that career development programs were the most effective way to retain employees.

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Brand reputation matters

Today’s employees and job seekers have access to more information about companies they are interested in applying to. A bad brand reputation can make hiring and keeping employees very difficult, and costly. Offering a career growth program like redeployment connects employee growth with a brand, creating loyal employees and positive brand sentiment.

According to Forbes, employer branding matters. Research shows that 75% of job seekers will investigate a company’s reputation before applying for a job, and 50% of job seekers refuse to work for a company with a bad reputation, even with a pay increase.

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Save on Administrative Costs

About 80% of organizations with greater than 1,000 employees have a redeployment program managed internally. Dedicating internal resources to providing career counselling to employees and application recommendations to fill roles internally, companies can outsource these services to save on time and resources, ultimately contributing to the bottom line. This can help to save on administrative costs while still providing high-quality, individualized services to employees.

A report by Mercer estimated that the cost of replacing an employee can range from 90% to 200% of the employee's annual salary, depending on their level of seniority and the complexity of their role. By retaining employees through redeployment services, companies can avoid these costs and save money in the long run.

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How can Thrive help?‍

‍Thrive can help you tap into your greatest asset – your people. Thrive’s Redeployment program and career-building solutions give your employees a SkillsID to identify their current skills and map their learning and development to their career of choice. They can receive career coaching to help them feel confident in applying to in-demand roles within your organization.

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The Thrive Redeployment program includes:

• Access to the Thrive Platform
• Custom-Tailored Learning and Development in the Thrive Marketplace
• AI Career Mapping with the Thrive Career Path Explorer
• Onboarding with a live Thrive Coordinator
• Redeployment Coaching with a career professional

Each Participant will:

• Have greater employee loyalty
• Learn new skill sets
• Have a clear career path
• Gain application confidence
• Have a new role internally

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Conclusion

By utilizing Thrive’s Redeployment services, companies can save on administrative costs while still providing high-quality services to their employees. And by providing internal job search assistance and career coaching, outplacement services can help employees to find new employment opportunities within your organization faster, boost their confidence, and maintain a positive reputation for the company.

Let's chat about supporting your
people with Thrive.

sales@thrivemycareer.com

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